European Parliament Resolution

SWIFT Statement

On 18 September the European Parliament voted through a non-binding Resolution ("on the situation in Ukraine and the state of play of EU-Russia relations" (2014/2841(RSP)) )  in which SWIFT was singled out.

Under fundamental principles of European law, enshrined in the EU Charter of Fundamental Rights, the singling out of SWIFT in this manner interferes disproportionately with SWIFT's fundamental right to conduct business and its right to property. It also constitutes discriminatory and unequal treatment. Explicitly mentioning SWIFT in a European Parliament resolution of this kind on such an international sensitive matter also creates immense damage to our company's reputation. Our mission remains to be a global and neutral service provider to the financial industry.

The provision of financial messaging services to Russian entities is not affected by the current measures in force.  

About SWIFT (the Society for Worldwide Interbank Financial Telecommunication)
 SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,500 financial institutions and corporations in 215 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.